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Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [42] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [43]
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The 2022 Sri Lankan protests, commonly known as Aragalaya ( Sinhala: අරගලය, lit. 'The Struggle'), were a series of mass protests that began in March 2022 against the government of Sri Lanka. The government was heavily criticized for mismanaging the Sri Lankan economy, which led to a subsequent economic crisis involving severe ...
The army was officially established as the Ceylon Army in 1949, though the army traces its roots back in 1881 when Ceylon Light Infantry Volunteers was created; the army was renamed as the 'Sri Lanka Army' when Sri Lanka became a republic in 1972. In 2024, the Army had approximately 150,000 personnel. [ 1][ 3]
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Sri Lanka, [ a ] historically known as Ceylon, [ b ] and officially the Democratic Socialist Republic of Sri Lanka, is an island country in South Asia. It lies in the Indian Ocean, southwest of the Bay of Bengal, separated from the Indian peninsula by the Gulf of Mannar and the Palk Strait. It shares a maritime border with the Maldives in the ...
The Central Bank of Sri Lanka raised interest rates in August 2021, and Sri Lanka became the first nation in Asia to tighten the monetary policy during the pandemic era. [20] [21] On 27 August 2021, the government extended the lockdown to 6 September 2021 as the daily death toll surpassed 200 for the first time since the pandemic began. [22] [23]